The war with Iran continues to wreak havoc on the U.S. inflation rate and with energy prices not only here, but around the world.

Statistics released by the Bureau of Labor Statistics shows U.S. inflation jumped to 3.8% in April over the last year. It’s the highest jump since 2023. Read Full Article

Trump Considering Suspending Federal Gas Tax

If President Donald Trump can get Congress to agree with him, Americans may see some relief in gas prices, though it’s uncertain when, for how long or how much relief.

Trump said earlier this week he’s planning on reducing the federal gas tax – currently set at 18 cents – as fuel prices continue to rise amid the Iran war. Read Full Article

U.S. Adds 115,000 Jobs; Unemployment Rate Holds

The U.S. job market had an unexpectedly solid month in April.

According to the Bureau of Labor Statistics, the U.S. economy added 115,000 jobs last month, and the unemployment rate – 4.3 percent – stayed right where it was. The results fueled speculation that the Federal Reserve will leave interest rates alone when next they meet. Read Full Article

Fueled By War’s Impact, Retail Sales Show April Rise

In a scene from “The West Wing,” the cast discussed the meaning of the saying, “post hoc ergo procter hoc” (which is Latin for “after this, therefore because of this”).

It is pointed out in the scene that the saying is hardly ever true. But it may apply in the case of the U.S. economy. Read Full Article

In Focusing On AI, Cisco to Cut Some 4,000 Jobs

Cisco announced Wednesday it would cut nearly 4,000 jobs as part of a restructuring aimed at shifting investment toward artificial intelligence and related growth areas, and raised its annual revenue forecast after a surge in hyperscaler orders.

Shares of the San Jose, California-based networking equipment maker rose 15% in extended trading, according to a report from Reuters. Read Full Article

The U.S. economy hit a slight jump-start as 2026 began.

According to numbers released Thursday by the Commerce Department, the economy expanded at a 2% pace from January through March. While the acceleration comes after recovering from last fall’s 43-day federal government shutdown, the Iran war is still casting something of a pall over the figures. Read Full Article

Divided Fed Board Holds Steady on Interest Rates

For the third straight time, Federal Reserve officials decided to leave interest rates right where they are, though a rift in its governing board appears to be widening.

In holding rates steady – at a range of 3.5% to 3.75% — the Fed signaled a concern over rising inflation amid rising energy costs that polling shows have Americans less optimistic about the economy. Read Full Article

GM Investing $830 Million in Three U.S. Plants

General Motors is investing a combined $830 million to strengthen three key propulsion sites across its U.S. manufacturing footprint. The announcement brings GM’s investments in domestic manufacturing to more than $6 billion in the past 12 months. Read Full Article

Still No Deal to Open Gordie Howe Bridge

Pete Hoekstra is confident a deal will be worked out to get the new Gordie Howe International Bridge open. He just isn’t sure when.

Hoekstra, the U.S. Ambassador to Canada, said Tuesday the Trump administration hasn’t come to an agreement yet with the Canadian government regarding the opening of the bridge, but told Michigan Gov. Gretchen Whitmer and Republican House Speaker Matt Hall that the issue “will get worked out.” Read Full Article

Barbecue Chain Smokey Bones Closes All U.S. Outlets

Diners looking to enjoy some barbecue now have one less place to find it.

American barbecue chain Smokey Bones announced it was closing all of its U.S. locations, effective April 27, according to a report from USA Today. The move comes after Smokey Bones’ parent company, FAT Brands Inc., filed for Chapter 11 bankruptcy in January. Read Full Article

The war in Iran apparently produced some unexected results last month.

With the war producing a hike in oil prices that translated into higher gas prices, U.S. retail sales increased more than expected in March and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere, according to a report from Reuters. Read Full Article

Cook Steps Aside, Ternus Takes Lead at Apple

CUPERTINO, CALIF. – Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on Sept. 1.

The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process. Read Full Article

Microsoft Planning 1st Voluntary Employee Buyout

For the first time in company history, Microsoft is planning to offer a voluntary employee buyout.

CNBC was first to report the plan, citing a memo it obtained.

Like other U.S. tech giants, Microsoft has been spending aggressively on artificial intelligence. However, adoption of one of its flagship AI services, the 365 Copilot, has reached just slightly over 3% of its total 450 million 365 customers. Read Full Article

Shareholders OK Warner Bros. Merger With Paramount

Shareholders of Warner Bros Discovery voted “overwhelmingly” to approve the company’s $110 billion merger with Paramount Skydance, the parent company of CBS News, on Thursday, though they were far less enthusiastic about a proposed compensation packages for the company’s leaders.

They voted against those proposed packages, including a $550 million payout to the outgoing chief executive, David Zaslav, The Guardian reported. Read Full Article

United Airlines Eyes Higher Ticket Prices to Offset Fuel Costs

Travelers using United Airlines can likely expect higher ticket prices soon.

CEO Scott Kirby said ticket prices may need to rise by as much as 15% to 20% to offset a surge in jet fuel costs, signaling a significant test of consumers’ willingness to absorb higher fares as the industry grapples with volatile oil prices. Read Full Article

SEATTLE & COVINGTON, La. (Business Wire) — Amazon.com, Inc. and Globalstar, Inc. announced that they have entered into a definitive merger agreement under which Amazon will acquire Globalstar, enabling Amazon Leo to add direct-to-device services to its low Earth orbit satellite network and extend cellular coverage to customers beyond the reach of terrestrial networks. Read Full Article

Spirit Airlines Faces Possible Liquidation

Spirit Aviation Holdings, the parent of Spirit Airlines, risks liquidation as rising jet fuel prices due to the Middle East war could further strain the bankrupt carrier’s finances, according to a report from Bloomberg News on Wednesday.

The decision on potential liquidation could come as soon as this week, according to Bloomberg, which cited people familiar with the issue saying the situation remains fluid as Spirit holds talks with its creditors. Read Full Article

First-Time Unemployment Claims Take a Dip

With the war in Iran looming over the U.S. economy, the labor market appears to remain fairly stable.

New applications for U.S. unemployment benefits fell last week. Initial claims for state unemployment benefits dropped to a seasonally adjusted 207,000 – a drop of 11,000 — for the week ended April 11, according to statistics released by the Labor Department Thursday. Economists polled by Reuters had forecast 215,000 claims for the latest week. Read Full Article

NPR Gets Millions in Donations From Two Donors

NPR may have had its federal funding stripped in President Donald Trump’s war against public media, but that didn’t stop a pair of donors from injecting millions of dollars into the public broadcast network.

NPR announced it has received a $113 million windfall on Thursday from two charitable donors, including billionaire philanthropist Connie Ballmer, The Washington Post reported. Read Full Article

7-Eleven Closing Hundreds of Locations

Patrons at hundreds of 7-Eleven stores around the country are going to have to find ways to replace their Big Gulps.

Seven & I Holdings, the parent company of 7-Eleven, announced that a total of 645 locations are set to close across North America this fiscal year. Read Full Article

Corp! Magazine dives down on “phygital” shopping, an increasingly popular kind of retail activity that combines shopping at a physical store with finding what you’re looking for online. We also explore the success of Grand Rapids-based The Right Place, one of the country’s top economic development organizations, take a look at how small businesses are being impacted by the performance of the dollar, and more.

Corp! Magazine has made it easier to read our bi-monthly publication with a convenient digital flip book.

• Cover Story: Integrating is the phygital future of retail commerce.

• Development: From humble beginnings, The Right Place built a development dynamo.

• Human Resources: Foundation marks three decades of helping automotive women.

• Finance: American businesses not yet feeling the impact of the dollar.

Anyone wondering what effect the war with Iran is having on the U.S. economy got their answer this week.

Sparked by a record increase in gas prices as the cost of oil soars, the U.S. inflation rate climbed to its highest rate in two years. Read Full Article

Experts Say Gas Prices Likely to Stay High Despite Ceasefire

President Donald Trump announced a two-week ceasefire in the war with Iran this week. But Americans who thought that would immediately lower gas prices are likely in for some disappointment.

Market experts believe U.S. consumers will continue to pay high prices to fill up their vehicles or purchase airplane tickets through the peak summer travel season. Read Full Article

USPS Seeks First-Class Stamp Rate Hike

U.S. Postmaster General David Steiner said last month the U.S. Postal Service could run out of cash as early as October.

The USPS indicated at least one way it plans to try to avoid that: Raising postal prices. Read Full Article

Amazon, USPS Reach Deal on Deliveries

Amazon and the U.S. Postal Service have reached an agreement that will enable the USPS to retain the majority of business from its biggest customer.

Multiple outlets are reporting the deal leaves the USPS with some 80% of Amazon’s package delivery business.

Amazon had earlier been said to be considering a two-thirds reduction. Read Full Article

Federal Reserve Chair Jerome Powell, continuing to resist the immense pressure being put on him by President Donald Trump to lower interest rates, said the Fed is in a position to “wait and see” how the war in Iran affects the economy and the inflation rate before making such decisions.

Powell said Monday that policymakers typically look through shocks such as those from higher oil prices, according to report from Reuters. Read Full Article

Retail Sales Strong in February; Gas Prices Surging

U.S. retail sales were higher than they’ve been in seven months, auto sales saw a rebound and even the weather was improved in February.

And although experts note that gas prices are escalating because of the war in Iran, the Commerce Department report released Wednesday – it was delayed by the government shutdown – indicated the U.S. economy was fairly stable as the war began. Read Full Article

Surging Oil Prices Putting a Dent in Consumer Sentiment

With the war in the Middle East continuing to force oil prices up and creating havoc in the financial market. U.S. consumer sentiment has dropped to its lowest level in three months.

A survey released last week by the University of Michigan showed consumers are concerned about the prospects for the American economy in the wake of the war. Read Full Article

Gas Prices Surge Past $4 Per Gallon as War Continues

The war with Iran is wreaking havoc on drivers all over the world.

For the first time in more than three years, the average price of a gallon of gas rose above $4 per gallon on Monday. It’s the sharpest monthly rise in decades, according to data collected by price tracking service GasBuddy, as the U.S.-Israeli war on Iran roiled global energy markets. Read Full Article

Unilever, McCormick Deal Creates $65 Billion Food Company

Unilever said on Tuesday it will merge its food business with spice maker McCormick in the second-largest food transaction in history, a deal that will create a company worth roughly $65 billion.

Unilever announced the deal in a press release posted to the company’s website. The transaction will be structured as a so-called Reverse Morris Trust, which offers tax benefits. Unilever will spin off the food division and then merge it with the Cholula hot sauce owner. Read Full Article

The U.S. Postal Service filed notice this week with the Postal Regulatory Commission regarding a time-limited price change to better align its costs of transportation with the market. Read Full Article

First-Time Unemployment Claims Rise Slightly in ‘Stable’ Labor Market

The U.S. labor market appears to remain fairly stable, which could be a factor in what the Federal Reserve decides to do about interest rates.

First-time applications for U.S. unemployment benefits rose slightly last week, according to figures released by the U.S. Labor Department. The report, released Thursday, also showed the number of people collecting unemployment checks in mid-March was the lowest in nearly two years. Read Full Article

Shareholders Set to Vote on $110 Billion Warner Bros-Paramount Merger

The merger between Warner Bros Discovery and Paramount appears to be all over but the voting.

Warner Bros Discovery said Thursday shareholders will vote on its planned $110 billion merger with Paramount Skydance on April 23. The vote brings the companies a step closer to completing the deal that would reshape the media landscape. Read Full Article

Mars Spending $100 Million to Expand Headquarters, Add 600 Jobs

Candy giant Mars Snacking is investing $100 million to expand its Chicago headquarters, adding two new offices and more than 600 jobs, the company announced Wednesday.

The Chicago Tribune reported that, with incentives created by Illinois tax credits, Mars Snacking is opening a new regional office in Fulton Market and taking over the former Kellanova headquarters in River North as a new hub for its Accelerator Division, growing its corporate footprint beyond its Goose Island campus. Read Full Article

Chevrolet Debuts 2027 Corvette Grand Sport, Grand Sport X

DETROIT — Chevrolet is reviving one of Corvette’s most storied racing names with the 2027 Corvette Grand Sport, and creating new legacy with the Grand Sport X.

Both vehicles blend heritage-inspired design with a next-generation V8 engine that produces more torque than any other naturally aspirated V8 before it, Chevy officials noted in a release posted to the carmaker’s website. The duo delivers a modern take on Grand Sport’s traditional role as a sweet-spot in the lineup, blending visceral V8 performance, distinctive style and everyday drivability. Read Full Article

The Federal Reserve Wednesday decided to hold interest rates right where they are.

And, despite nearly constant pressure from President Donald Trump, the Fed also indicated the cut he wants to badly is only likely to happen once this year.

The Fed held interest rates steady while projecting higher inflation, continuing unemployment and only a single rate cut for the year. All of that comes with escalating oil prices and the cost of the war in Iran. Read Full Article

Postal Service Could Be Broke By October

The head of the U.S. Postal Service says the USPS is going to need some more money before the end of the year if the agency continues to make required retirement and other payments to the government. Read Full Article

With Fuel Costs Spiking, Airlines Hiking Prices

Cars and trucks aren’t the only vehicles feeling the pinch at the pump as the war in Iran drags on.

The Los Angeles Times reported that jet fuel prices have also shot up, and that experts are saying airfares are following suit.

With a busy summer travel season approaching, airlines are starting to pass the costs on to passengers through higher fares and fees, the Times reported. Read Full Article

Unemployment Claims Take an Unexpected Dip

The number of Americans filing new applications for unemployment benefits took an unexpected dip last week, pointing to stable labor market conditions and a potential rebound in job growth in March. Read Full Article

Uber, Rivian Partner to Deploy Up To 50,000 Fully Autonomous Robotaxis

SAN FRANCISCO & IRVINE, Calif. – Rivian Automotive, Inc. and Uber Technologies, Inc. announced a partnership to help accelerate both companies’ autonomous vehicle plans, expecting to deploy 10,000 fully autonomous R2 robotaxis in the first phase of R2 robotaxi deployment.

Initial deployments are expected to begin in San Francisco and Miami in 2028 and will expand to 25 cities by 2031. Read Full Article

U.S. consumers paid more for rent, gasoline and items at the supermarket in February, and it isn’t likely to stop there.

With the war in the Middle East escalating, observers think higher costs are in store.

According to a report from Reuters, the Consumer Price Index report issued by the Labor Department on Wednesday, which also showed underlying inflation muted last month, covered the period before the U.S. and Israel launched strikes against Iran. Read Full Article

Low Layoffs, Middle East War Could Impact Fed Decisions

Despite the fact the Labor Department reported last week the U.S. economy lost 96,000 jobs last month, the number of Americans filing new applications for unemployment benefits fell last week.

That statistics would seem to indicate some stability in the labor market, though the U.S.-Israeli war against Iran poses a downside risk. Read Full Article

Target Lowering Prices on 3,000 Products Headed into Spring

MINNEAPOLIS (PRNewswire) – Target Corporation is lowering prices on more than 3,000 on-trend items across its apparel and home assortment, baby essentials and select food and beverages as guests get ready for spring. Read Full Article

McDonald’s Expected to Introduce $3 Extra-Value Items

McDonald’s is expected to introduce menu items priced at $3 or less, along with $4 breakfast meal deals in the U.S., starting in April.

The Wall Street Journal reported the story on Wednesday, citing people familiar with the discussions. Read Full Article

After the Supreme Court ruled many of President Donald Trump’s tariffs unconstitutional, a federal judge ruled this week that U.S. companies who paid those tariffs have a right to their money back. Read Full Article

U.S. Manufacturing Activity Holding Steady

There’s some good news and some bad news in the manufacturing industry.

According to a report from Reuters, U.S. manufacturing activity grew steadily in February, but prices at the factory gate raced to a near 3½-year high amid tariffs, highlighting upside risks to inflation even before a U.S.-led attack on Iran sent oil prices rocketing. Read Full Article

Retailers Trying to Navigate Shifting Tariffs

The tariff landscape is shifting again – caused largely by the Supreme Court decision rendering many of President Donald Trump’s tariffs unconstitutional – and the uncertainty is apparently having an affect on retailers. Read Full Article

EPR Acquires Seven Six Flags Amusement Parks

KANSAS CITY, Mo. (BUSINESS WIRE) – EPR Properties announced it has entered into definitive agreements to acquire a portfolio of seven regional parks from Six Flags Entertainment Corporation for a gross transactional value of $342 million. Read Full Article

San Diego Girl Scouts Sue Ferrero Over Contract Terms

A Girl Scouts organization in California is suing a major candy company for breaking a contract and trying to force the organization into a newer, more-expensive deal.

According to the San Diego Union-Tribune, a federal lawsuit filed this week by Girl Scouts San Diego says that Ferrero U.S.A., a massive multinational corporation whose subsidiary bakes Girl Scout cookies, broke a contract with the local Girl Scouts in 2024, a decision the Scouts claim cost them more than $1.1 million in lost revenue and the elimination of 25 jobs. Read Full Article

Consumer confidence appeared to bounce back in February.

The Conference Board, a global think-tank and business membership organization, reported its consumer confidence index increased 2.2 points to 91.2 this month. The good news follows an adjustment to January data that showed the index at 89.0 instead of 84.5, which was the lowest level since May 2014. Economists polled by Reuters had forecast the index at 87.0. Read Full Article

Stellantis Posts First Annual Loss in Company History

A shift in its EV goals appears to have had an economic impact on one of the world’s largest automakers.

Auto giant Stellantis on Thursday reported its first-ever annual loss after booking substantial write-downs amid a major strategic shift. The multinational automaker, which builds models including Jeep, Dodge, Fiat, Chrysler and Peugeot, posted a full-year 2025 net loss of $26.3 billion compared with full-year profit of 5.5 billion euros a year ago. Read Full Article

Trump Uses SOTU to Suggest New Retirement Benefit for 54 Million Workers

A benefit President Donald Trump proposed in his nearly two-hour State of the Union address this week could have a major impact on millions of American workers if it comes to pass. Read Full Article

Netflix Declines to Raise Offer for Warner Bros.

HOLLYWOOD — Netflix, Inc. announced that it has declined to raise its offer for Warner Bros. Netflix had earlier received notice from Warner Bros. Discovery that its Board of Directors has determined Paramount Skydance’s latest proposal constitutes a “Superior Proposal” under the terms of WBD’s existing merger agreement with Netflix. Read Full Article

Weekly Jobless Benefit Claims Rise Slightly

In a good news-bad news development in the job market, the number of Americans filing new applications for jobless benefits was up a bit last week while the unemployment rate appeared to hold steady in February. Read Full Article

Corp! Magazine’s annual financial forecast issue examines what economists think about the U.S. economy in 2026, and why they think it might be better than expected. We also the Best & Brightest CEOs and Leadership Teams, delve into the state of women-owned businesses and more.

Corp! Magazine has made it easier to read with a convenient digital flip book. Here’s what’s inside:

• Cover Story: Despite some struggles, U.S. economy could exceed expectations.

• Awards: Honors celebrate top CEOs, leadership teams.

• Economy: The state of women-owned businesses is optimistic, with room for growth.

• Human Resources: American labor market starts new year at slower pace.

The U.S. Supreme Court Friday issued a 6-3 decision striking down President Donald Trump’s global tariff policies. Read Full Article

Record Government Shutdown Slowed U.S. Economic Growth

The longest government shutdown in U.S. history apparently had a negative impact on the U.S. economy.

According to figures released by the Commerce Department’s Bureau of Economic Analysis, the 43-day shutdown – along with a slow-down in consumer spending – slowed economic growth. Read Full Article

Manufacturing Gain the Highest in 11 Months

After nearly a year of malaise, the manufacturing industry showed signs of life last month.

According to statistics reported by the Federal Reserve this week, U.S. factory production rose by 0.6% in January, the largest gain since February 2025, after being unchanged in December, the Federal Reserve said on Wednesday. Read Full Article

Amazon Dethrones Walmart as Global Revenue King

It was close, but Walmart is no longer the biggest company in the world.

Amazon.com Inc. reported revenue in its last fiscal year (Amazon’s fiscal year ended Dec. 31) of $717 billion, besting Walmart by some $4 billion to become the largest global revenue earner. Walmart, which had held the title for a decade, reported $713.2 billion in revenue for its fiscal year, which ended Jan. 31. Read Full Article

Wendy’s Plans to Shutter 6% of its Locations

Diners who enjoy a Wendy’s Frosty should start checking to make sure the store near them will still be serving it.

Officials at Wendy’s announced the fast-food chain will be closing up to 6% of its stores in the first half of 2026 as part of its downsizing plan. Read Full Article

First-Time Unemployment Applications Drop to 206,000

Fewer American workers filed for unemployment benefits last week as opposed to the week before as layoffs hold at historically low levels.

The Labor Department reported Thursday that 206,000 Americans filed for unemployment assistance in the week ending Feb. 14. That’s a drop of 23,000 from the previous week, and is lower than the 225,000 new applications experts were expecting, The Associated Press reported. Read Full Article

Shoppers were apparently not all that encouraged about the economy over the holiday season.

According to a report from the Commerce Department Tuesday, shoppers slowed down their spending in December (as compared to November). Read Full Article

Job Growth Climbed, Unemployment Fell: Commerce Report

Job growth was up and the unemployment rate was down a little, an economic tag-team that could impact decisions on interest rates at the next meeting of the Federal Reserve Board of Governors.

With job growth unexpectedly accelerating and the unemployment rate dipping slightly to 4.3%, the Fed may have room to consider leaving interest rates alone for awhile. Read Full Article

Fed Report Claims Americans Are Paying Tariff Costs

A report from the Federal Reserve Bank of New York says American citizens are bearing nearly all of the burden placed on the economy by President Donald Trump’s tariffs.

The report, issued Thursday, said 90% of the tariffs imposed by the president on imported goods are borne by American consumers and businesses. The report seems to oppose the administration’s statements that the tariffs are paid by foreigners. Read Full Article

Consumer Prices Saw Slower Rise Than Expected in January

U.S. consumer prices increased less than expected in January, but underlying inflation firmed as businesses raised prices at the start of the year.

Those factors, along with a stabilizing labor market, could allow the Federal Reserve to keep interest rates unchanged for a while, according to a report from Reuters. Read Full Article

Value Meals Pace Growth for McDonald’s

The fourth quarter was kind to McDonald’s last year.

U.S. sales for the fast-food giant grew at the fastest pace in more than two years as value meals continued to resonate with cost-conscious diners. Read Full Article

Corp! Magazine’s annual All-Winners edition out now pays tribute to the hundreds of winners from the Best & Brightest programs and from Corp! Magazine. The winners come from regions all across the country, from the San Francisco Bay Area to Boston, from Milwaukee to Dallas/Fort Worth. We also talk about the importance of creating a safe and civil workplace and hear from one chief executive who says business leaders can’t be afraid to fail if they want to succeed.

Corp! Magazine has made it easier to read with a convenient digital flip book. Here’s what’s inside:

• Cover Story: Top businesses are among the nation’s best and brightest companies.

• Talent: Winners proud of efforts that garner national awards.

• Executive Conversation: Business leaders can’t be afraid if they want to succeed.

Of course, there’s more, and it’s all available by clicking here.

U.S.-based employers announced 108,435 job cuts in January, an increase of 118% from the 49,795 cuts announced in the same month last year.

It is up 205% from the 35,553 job cuts announced in December, according to a report released Thursday from global outplacement and executive coaching firm Challenger, Gray & Christmas. Read Full Article

Verizon Sues Competitor Over False Advertising Claims

Officials at Verizon Wireless believe competitor T-Mobile has been dishonest in its advertising, and on Wednesday filed suit to try to stop it

Verizon Wireless sued T-Mobile, accusing its largest rival of false advertising and causing irreparable harm by promising consumers more than $1,000 of annual savings if they switch cellphone carriers. Read Full Article

First-Time Benefit Claims Surge, Unemployment Rate Steady

Last week’s bad weather appears to have played a role in the U.S. job market as the number of Americans filing new applications for unemployment benefits rose more than expected. Read Full Article

Washington Post Slashes Staff in Many Departments

One of the country’s largest and arguably most-respected newspapers on Wednesday continued a transformation begun since Jeff Bezos bought it.

The Post announced it has begun widespread layoffs, moves that will drastically reduce the newspaper’s size. The moves were discussed on a recording of a call obtained by Reuters and reported in a number of news outlets. According to the reports, WAPO cuts will affect all departments. Read Full Article

Eddie Bauer Expected to Close North American Stores, File For Bankruptcy

Outdoor apparel retailer Eddie Bauer, whose namesake opened its first store in Seattle more than 100 years ago, is expected to close its stores in North America and file for bankruptcy.

The company operates more than 200 stores in North America currently — down from more than 600 international locations in the 1990s. Locations outside of North America would not be subject to the bankruptcy proceedings, according to Women’s Wear Daily. Read Full Article

Despite continuing political pressure from President Donald Trump, the Federal Reserve this week decided against cutting its key interest rate after its first meeting of 2026.

The decision leaves the rate at some 3.6% after lowering it three times last year. Read Full Article

Confidence in U.S. Economy Falls to Lowest Level Since 2014

It’s been a dozen years since Americans have felt this disillusioned about the U.S. economy.

Consumer confidence declined in January, hitting its lowest level since 2014, according to figures released by The Conference Board, a global nonprofit think tank and business membership organization. Read Full Article

Trump Picks Former Fed Governor Warsh to Replace Powell

President Donald Trump, who has for months expressed deep displeasure with Federal Reserve Chairman Jerome Powell, has found Powell’s potential replacement.

Trump said Friday he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, replacing Powell when his term ends in May. While Trump picked Powell to lead the Fed in 2017, he has consistently assailed him for not cutting interest rates quickly enough. Read Full Article

UPS, Amazon Announce Another Round of Job Cuts

As consumer confidence in the U.S. economy dips, two major companies this week announced they’re cutting jobs.

United Parcel Service officials said the company expects to cut as many as 30,000 positions this year, part of an ongoing effort by the package-delivery giant to rein in costs and boost profitability, according to a report from Bloomberg. Read Full Article

First-Time Unemployment Claims Drop to 209,000

Fewer workers sought initial unemployment benefits last week, keeping that number at historically healthy levels.

According to the Labor Department, applications for assistance for the week ending Jan. 24 fell to 209,000, a drop of 1,000 requests. Analysts surveyed by the data firm FactSet were expecting 205,000 new applications, the Associated Press reported. Read Full Article